Real Wealth Network FAQ
1. Please understand that we do not help our members “flip” homes for quick profits. Rather, we specialize in helping people build generational wealth through the acquisition of high cash-flow income properties.
2. If you plan to purchase property with all cash, you will need to have at least $60,000. We have found that most investment properties under $50k tend to be in less than desirable neighborhoods with potential high crime rates, vandalism and high turnover with tenants.
3. If you plan to use your IRA funds to invest in property, you’ll need to have at least $50k in your IRA. In some cases there may be limited financing available using your IRA. These banks usually require 50% down with a minimum $50,000 loan amount.
4. If you plan to obtain conventional financing to purchase investment property you will most likely need:
- a credit score of at least 680 (740 is ideal)
- a two year job history at a US company
- at least a 20% down payment (in some cases, 15%, but there are some extra costs)
- six months reserves (in savings or your retirement fund)
- a low debt to income ratio
- not more than ten financed properties on your current credit report